Noah (NYSE:NOAH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report released on Saturday morning.

Separately, Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research note on Friday, November 29th.

Noah Price Performance

NYSE:NOAH opened at $11.82 on Friday. The firm’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $10.92. Noah has a one year low of $7.14 and a one year high of $15.44. The company has a market cap of $779.44 million, a P/E ratio of 10.10 and a beta of 0.78.

Noah (NYSE:NOAH) last released its quarterly earnings results on Tuesday, November 26th. The asset manager reported $0.30 EPS for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. As a group, equities research analysts expect that Noah will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Noah

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in Noah by 10.4% during the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after buying an additional 167,685 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Noah during the third quarter worth about $566,000. FMR LLC acquired a new stake in Noah during the third quarter worth about $8,895,000. Ballentine Partners LLC grew its stake in Noah by 16.7% during the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock worth $323,000 after buying an additional 3,948 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in Noah during the third quarter worth about $196,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.